CIL Plans Largest IPO Of Rs 15000 Crore In October (09-Jul-2010)
State-run Coal India is likely to hit the market by the third week of October with India's largest ever public offer to raise up to Rs 15,000 crore as the government is disinvesting 10% of its stake in Coal India (CIL) through the Initial Public Offer (IPO). The 10% disinvestment will see the government raising around Rs 12,000- 15,000 crore.
Although CIL's IPO was planned in August-September, it was delayed due to opposition to the government's 10 per cent stake sale move from trade unions and political parties. Further, the Department of Disinvestment has finalized the issue date. The company will now file the Draft Red Herring Prospectus (DRHP) of the IPO by the first week of August.
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